Land Transfer Tax in OntarioA real estate transfer tax
is assessed on real property when ownership of the property is transferred from one party
to another. The tax is a percentage of the price of the property based on a graduated
scale:
0.5% on amounts up to and including $55,000;
+ 1.0% on the amount exceeding $55,000 up to and including $250,000;
+ 1.5% on amounts above $250,000 up to and including $400,000;
+ 2.0% of the amount in excess of $400,000. (residential only)
.